PACCAR (NASDAQ:PCAR) Price Target Raised to $110.00

PACCAR (NASDAQ:PCAR) had its target price boosted by Wells Fargo & Company from $95.00 to $110.00 in a research report released on Friday morning, The Fly reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on PCAR. Credit Suisse Group lifted their price objective on PACCAR from $72.00 to $87.00 and gave the company a neutral rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein assumed coverage on PACCAR in a research note on Tuesday, September 22nd. They issued a market perform rating and a $94.00 price target for the company. Raymond James lifted their price target on PACCAR from $95.00 to $100.00 and gave the company a strong-buy rating in a research note on Thursday, September 3rd. Deutsche Bank lifted their price target on PACCAR from $95.00 to $108.00 and gave the company a buy rating in a research note on Wednesday, July 22nd. Finally, Citigroup lifted their price target on PACCAR from $85.00 to $95.00 and gave the company a buy rating in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $87.33.

PACCAR stock opened at $83.53 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.48 and a quick ratio of 2.32. The stock has a market capitalization of $28.91 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.52 and a beta of 1.11. PACCAR has a 1-year low of $49.11 and a 1-year high of $91.30. The business has a fifty day moving average price of $86.35 and a 200-day moving average price of $74.77.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.12. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.88 billion. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The business’s quarterly revenue was down 56.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. On average, equities research analysts anticipate that PACCAR will post 3.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, November 9th. PACCAR’s dividend payout ratio is currently 18.63%.

In other news, VP Todd R. Hubbard sold 7,416 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $85.90, for a total transaction of $637,034.40. Following the sale, the vice president now owns 9,430 shares of the company’s stock, valued at $810,037. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP C Michael Dozier sold 12,158 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $85.40, for a total value of $1,038,293.20. Following the sale, the senior vice president now directly owns 9,923 shares in the company, valued at approximately $847,424.20. The disclosure for this sale can be found here. Insiders have sold 26,888 shares of company stock worth $2,300,018 in the last ninety days. Corporate insiders own 2.18% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its stake in PACCAR by 1.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 64,524 shares of the company’s stock valued at $3,944,000 after buying an additional 1,224 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of PACCAR by 6.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,589 shares of the company’s stock worth $1,259,000 after buying an additional 1,231 shares during the period. Blair William & Co. IL boosted its holdings in shares of PACCAR by 22.4% during the 1st quarter. Blair William & Co. IL now owns 12,464 shares of the company’s stock worth $762,000 after buying an additional 2,279 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of PACCAR by 0.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 47,345 shares of the company’s stock worth $2,894,000 after buying an additional 406 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 44.5% during the 1st quarter. JPMorgan Chase & Co. now owns 520,605 shares of the company’s stock worth $31,824,000 after buying an additional 160,423 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

Recommended Story: What sectors are represented in the FTSE 100 index?

The Fly

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.